Trade Chewy, Inc. - CHWY CFD

Trade Chewy, Inc. - CHWY

Online retailer Chewy Inc was founded in June 2011 by Ryan Cohen and Michael Day. It provides, among other products, food, treats, furniture, healthcare supplies, clothing and accessories for pets. Brands sold under the Chewy brand include The Disney Collection, Frisco and Royal Canin.

Based in Dania Beach, Florida, the company was acquired by PetSmart in 2017 for $35.5bn, which at the time made it the largest-ever acquisition of an e-commerce site. In 2018, PetSmart moved 20% of its stake in Chewy to its equity owner, BC partners, and an additional 16.5% to an unrestricted subsidiary.

Cohen remained CEO of Chewy after the acquisition and the company continued to operate largely independently of PetSmart. 

In June 2019, Chewy went public at $22 a share, trading on the New York Stock Exchange (NYSE) under the ticker CHWY. That fiscal year, Chewy’s net sales amounted to $4.85bn, a 40% year-over-year increase from the previous year.

The company also saw a tremendous increase in customer numbers and demand for its products. After reaching a low of $20.62 on 12 March, CHWY stock climbed past its all time high of $41.43 one month later, hitting $42.69 on 9 April 2020.